Fitch Ratings Downgrades Boeing | Finansavisen

The credit rating company Fitch Ratings downgrades the outlook for the aircraft manufacturer Boeing from a stable BBB rating to a negative. Bloomberg wrote that on Friday evening.

Fitch thus becomes the third major credit rating agency to downgrade Boeing this week, including Moody’s and S&P Global Ratings.

According to Bloomberg, Fitch said the new credit rating is based on increased performance risk at Boeing over the next few years as it normalizes production, repays debt and deals with other issues facing the plane maker.

The credit rating agency, however, commented that it could stabilize the outlook again if Boeing delivers more than 100 of the already built 737 Max planes from storage, and half of the stored 787 Dreamliners by early next year. At the same time, they want to see the aircraft manufacturer increase production of the 737 to 38 aircraft per year. month.

Crisis for Boeing

The major American aircraft manufacturer has been in crisis since a piece of the fuselage fell off a 737 Max aircraft belonging to Alaska Airlines in January.

Since then there have been major changes in the company’s management, the authorities have limited production of the Max planes, and deliveries of new planes have been halved while safety procedures and quality control are reviewed.

However, it is not only the quality problems that reduce deliveries. Fewer deliveries from subcontractors, including engines from General Electric, also affected production.

The company’s quarterly report also came on Wednesday. There they could report a result after tax of minus 355 million dollars, 56 cents per share. stock. In the same period last year, the aircraft manufacturer lost 425 million dollars, or 69 cents per share. stock.

At group level, revenues fell 8 percent to 16,570 million dollars. For the commercial aircraft division, the top line plunged 31 percent to 4,650 million dollars, while the margin went from minus 9.2 to minus 24.6 percent.